Automotive Tire Market Analysis and Research to Witness Relatively Significant Growth During 2017-2022
August 16, 2019 by Steve Blade
A recent surge in the mobility service offerings across the world is fuelling demand for lightweight commercial vehicles. Growing traffic congestion, environmental concerns, and advancements in technology are gradually inducing a change in consumer perception. Mobility solutions include a wide array of services such as shared transport, on-demand transport, autonomous driving vehicles, and subscription-based transport services. These services are likely to create demand for commercial vehicles in the foreseeable future and are expected to be a vital cause contributing to the growth of the automotive tire market. According to the report, LCVs are estimated to contribute US$ 76 billion to the automotive tire market revenue in 2019.
Automotive Tire Market: Key Insights
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Table of Content
Chapter 1 .Global Automotive Tire Market - Executive Summary .22
Chapter 2 .Global Automotive Tire Market Overview .24
Chapter 3 .Global Automotive Tire Market Analysis and Forecast By Product Type .34
To be Continue...........
Robust Demand for Radial Tires to Prevail as LCV Sales Burgeon
The multi-layer structure of radial tires consisting of steel chords and steel cable beading impart great strength and durability to the tires which are vital reasons driving the demand for the tires in all vehicle segments. Additionally, the tread of radial tires enable better gripping of surface and substantially reduces rolling resistance which, in turn, provides better safety and contributes substantially to greater fuel efficiency. The assortment of benefits offered by radial tires is being leveraged in the lightweight commercial vehicle (LCV) segment. A significant rise in vehicle rental and sharing services is a key factor propelling LCV sales around the world. Substantial growth in LCV fleets around the world is likely to underpin the growing demand for radial tires.
Leading players operating in the automotive tire market include Bridgestone Corporation, The Yokohama Rubber Co., Ltd., Madras Rubber Factory Limited, Pirelli & C. S.p.A, Apollo Tyres Ltd., and Cheng Shin Rubber Industry Co.
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